TIO to Launch Cloud Based Wallet for North America’s Underbanked
Population

Real-time processing, credit building and affordable loans, part of
the vision for “TIO Wallet”

February 23, 2012 07:11 AM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--TIO Networks (TSX.V : TNC), North America's trusted expedited bill
payment processor, today announced it will launch a cloud based wallet
platform, TIO Wallet, designed to help the estimated 60 million
Americans who have limited access to mainstream financial products. TIO
Wallet will provide cash preferred customers with a tool designed to
serve as a centralized hub for their personal financial activities.

Wallet customers will be able to safely and securely load cash into
their personal Wallet account through TIO’s expansive retail network of
self-service automated kiosks and over-the-counter locations. Once
loaded, customers can use TIO smartphone or web apps to make last minute
bill payments, track their bill paying history or engage in other Wallet
services. TIO Wallet is bank agnostic and supports payments from bank
accounts as well as credit or debit cards from financial service
providers around the world.

“Finally, a Wallet designed from the ground up to meet the evolving
needs of the underbanked consumer,” said Hamed Shahbazi, Chairman and
CEO of TIO Networks. “The vast majority of TIO’s $1B worth of
transactions per year, support the underbanked marketplace. We know what
is important to this customer and are proud to serve them.”

TIO Wallet will primarily target the approximate 17 million Americans
who do not have access to mainstream financial products such as bank
accounts and low-cost loans. It will also benefit the additional 43
million Americans who have access to a bank account, but rely on costly
financial service providers, paying more for basic transactions and
credit.

"TIO's transition from transactions to accounts will have a profound
impact on their customer base,” said Arjan Schutte, senior advisor for
the Center for Financial Services Innovation. “It maintains the same
ease of use customers enjoy today, but allows for a migration to the
financial mainstream, including a greater range of lower cost products
that will help upward mobility."

By using TIO Wallet, consumers who demonstrate a pattern of financial
credibility will eventually be eligible for affordable loans and other
traditional banking services not commonly offered to America’s unbanked
or underbanked populations. TIO Wallet is supported around the clock
every day of the year by a live help desk in English and Spanish.

TIO’s Wallet technology already supports more than 150,000 subscribers
who have processed more than $40M worth of bill payments on its new
mobile platform in the last year. TIO’s goal is to roll out Wallet
accounts to more than 1M consumers by the end of 2012, making it one of
the most substantial wallet programs in North America. The first phase
of TIO Wallet is scheduled to roll out this spring with the launch of
“TIO MobilePay” a mobile bill payment application powered by TIO Wallet.
For early access to the app please visit: http://signup.tiomobilepay.com/

About TIO Networks

TIO Networks (TSX.V: TNC) is a cloud based multi-channel bill payment
processor serving the largest telecom, wireless, cable and utility
network operators in North America. With more than 60,000 physical
location endpoints to its bill payment processing network, TIO
symbolizes fast, convenient and secure access to high quality bill
payment services. For more information, please visit www.tionetworks.com

The TSX Venture Exchange has not reviewed this news release and does not
accept responsibility for its adequacy and accuracy.